Where to Get Capital for Limited-Service Restaurants

With these SBA loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $258,800 was given to a Connecticut entrepreneur in 2003.

This business knew how to go about getting a business bank loan. Based in South Windham, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Webster Bank, based in New Haven, Connecticut.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SOUTH WINDHAM, CT 06266

SBA Loan Lender

WEBSTER BANK
80 ELM ST
NEW HAVEN, CT 06510

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/25/2003

Loan Approval Gross Amount

$258,800

Loan Approval from the SBA

Of the total $258,800 loan amount, the SBA guaranteed $129,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Webster Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Small Business Loan

Small Business Banks in New Haven, Connecticut

Getting a Business Loan in Connecticut